The Manufacturers Life Insurance Company Buys 26,488 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

The Manufacturers Life Insurance Company raised its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 17.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,484 shares of the biotechnology company's stock after purchasing an additional 26,488 shares during the quarter. The Manufacturers Life Insurance Company owned 0.28% of Blueprint Medicines worth $15,393,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Torray Investment Partners LLC lifted its stake in Blueprint Medicines by 1.1% in the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company's stock valued at $1,439,000 after acquiring an additional 186 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Blueprint Medicines by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company's stock valued at $3,259,000 after purchasing an additional 265 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Blueprint Medicines by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company's stock worth $580,000 after buying an additional 283 shares during the last quarter. Pitcairn Co. raised its holdings in Blueprint Medicines by 2.8% during the fourth quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company's stock valued at $925,000 after buying an additional 293 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in shares of Blueprint Medicines by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,830 shares of the biotechnology company's stock worth $4,433,000 after acquiring an additional 310 shares in the last quarter.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction on Monday, May 5th. The shares were sold at an average price of $103.13, for a total transaction of $283,813.76. Following the transaction, the insider now directly owns 16,944 shares of the company's stock, valued at $1,747,434.72. This trade represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the transaction, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. The trade was a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,503 shares of company stock valued at $1,027,931. 4.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BPMC. StockNews.com raised Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Morgan Stanley started coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They set an "equal weight" rating and a $100.00 target price for the company. JMP Securities restated a "market outperform" rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, Scotiabank began coverage on shares of Blueprint Medicines in a research report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price objective for the company. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $126.56.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC traded up $0.03 during midday trading on Friday, reaching $98.79. The company's stock had a trading volume of 264,780 shares, compared to its average volume of 776,966. The business's fifty day simple moving average is $88.32 and its 200-day simple moving average is $93.67. The company has a market capitalization of $6.38 billion, a P/E ratio of -91.47 and a beta of 0.83. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. Blueprint Medicines Co. has a fifty-two week low of $73.04 and a fifty-two week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The firm had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The firm's quarterly revenue was up 55.5% on a year-over-year basis. During the same period last year, the business posted $1.40 earnings per share. As a group, equities research analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.